The Karnataka Bank Ltd., has proposed a dividend of 50 per cent to its share holders against last year’s 40 per cent after reporting Rs.451.45 crore net profit for 2014-15.
Declaring the Q4 as well as annual results, Bank Managing Director and CEO P. Jayaram Bhat said there was an increase of 65.52 per cent in its Q4 net profit at Rs.134.42 crore against Rs.81.21 crore during the relevant period last fiscal. The bank had posted Rs.311.03 crore net profit during 2013-14 and the year-on-year growth has been 45.15 per cent.
The business turnover of the bank touched Rs.77,688.60 crore as on March 31, 2015, registering a growth 12.71 per cent year-on-year. Deposits of the bank grew from Rs.40,582.83 crore to Rs.46,008.61 crore with a growth of 13.37 per cent. Advances grew from Rs.28,345.49 crore to Rs.31,679.99 crore, with a growth rate of 11.76 per cent.
The gross income of the bank for the year increased from Rs.4,694.41 crore to Rs.5,205.41 crore with an annual growth of 10.89 per cent. The operating profit of the bank increased from Rs.687.05 crore to Rs.773.38 crore. The net interest income has increased by 10.68 per cent year-on-year to Rs.1,168.85 crore from Rs.1,056.07 crore.
The gross NPA decreased to 2.95 per cent in Q4 compared to 3.44 per cent. The net NPA also declined to 1.98 per cent at the end of March 2015 compared to 2.41 per cent last fiscal.
